Publishe Date: 7:19 PM - 7/13/2015 | Print

Iran’s equities soar amid optimism for nuclear deal

Economy - Iran’s main share index has soared amid rising hopes that Tehran and the five permanent members of UN Security Council plus Germany, may soon finalize a comprehensive nuclear deal.

The Tehran Stock Exchange Index (TEDPIX) increased by 582 units or 2.3 percent to close at 69.194 points on Monday, the third working day this week.

1.249 million shares worth 297 trillion rials ($101 million) were traded at the Tehran stock market.

The figure was the highest during the past three months.

The stocks gained for a fifth day as investors pinned hopes to a looming deal between Iran and the six world powers over Tehran’s nuclear program.

Foreign ministers from Iran and the P 5+1 group of countries, which include the US, Britain, France, China and Russia plus Germany, are in the Austrian capital of Vienna, working on a final nuclear agreement that will see sanctions against Iran lifted in return for certain moves by the country to restrict some parts of its nuclear program.

Iran’s equities have recently been on a downward spiral over a number of issues including the oil slump, low liquidity, budget ambiguities and the country’s lingering nuclear negotiations with the P5+1 group.

All the same, outlook for Iran’s economic growth remains bright with growing expectations for a comprehensive nuclear deal between Iran and the P 5+1 group.

Tags: Economy -
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